Immigration and Diversity in Housing Market

March 23rd, 2008

A detailed article in Realty Times describes some of the discriminatory practices that Latinos and other minorities face in the housing market such as predatory lending and geographic steering. 

Despite these challenges to home ownership and the fact that Latinos are more likely to be low to moderate income as compared to their non-Hispanic counterparts,

…the National Association of Realtors maintains a positive outlook for the impact of diversity on housing. “Minorities will grow evermore important to housing markets over the next 10 years, accounting for an estimated two-thirds of new households,” says Realtors.org. “They will account for more than 50 percent of first-time homebuyers by 2010, when nearly three in 10 households will be headed by a minority.

While the larger social structure may be a barrier to Latino home ownership, realtors realize that Hispanics are the future of their business, as evidenced by the tips for working with Latinos in another article from Realty Times previously posted on this blog.

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